By Mischa Frankl-Duval 

Here's what we are watching as markets kick into gear Tue sday.

-- U.S. stock futures edged down Tuesday, signaling that major benchmarks will pare back gains a day after they closed at record highs.

Futures tied to Dow Jones Industrial Average ticked down 0.9%. The index of blue-chip companies on Monday rose to an all-time high and closed just short of the 30000-point milestone level. Contracts linked to the S&P 500 slid 0.8%. Read our full market wrap here.U.S. retail sales for October increased less than expected, up 0.3%, where analysts had expected a gain of 0.5%.

-- What's coming up. Companies including Alphabet, Etsy, Dropbox, Spotify and Roku will present at a conference hosted by RBC Capital Markets.

Tesla will be added to the S&P 500 next month, marking a milestone for the electric-car maker and bringing an already massive company into the mix. Its shares are up more than 12% premarket.

Market Movers to Watch

-- T-Mobile US shares rose 2.6% to $134. Wells Fargo yesterday set a $150 price target for the stock.

-- Shares of Walgreens Boots Alliance fell 9.4% and CVS fell 7.3% after Amazon launched an online pharmacy service.

-- Shares of Walmart fell 1.6% after quarterly sales rose at a slower pace than earlier in the coronavirus pandemic.

-- Home Depot shares dropped 1.7% after it delivered its third-quarter earnings report.

-- Ra Medical Systems fell more than 15% following news the company's board approved a 1-for-25 reverse stock split.

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(END) Dow Jones Newswires

November 17, 2020 09:08 ET (14:08 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.